Options Trading News

February 1, 2013  Fri 1:16 AM CT

Equity indexes were mixed while the CBOE Volatility Index and its futures were lower.

The S&P 500 was down 3.85 points to close at 1498.11, unable to hold the 1500 level for the first time in the last five sessions. It has resistance at 1510 and support at 1480.

The Nasdaq 100 was down just over 7 points to finish at 2731.53. The index has been in a tight range since the start of year, and its 20-day historical volatility is below 8 percent. It has support at 2660 and resistance at 2770.

The Russell 2000 was up 5 points, or 0.6 percent, to close at 902.09. It posted an all-time closing high of 907.31 on Tuesday. It has resistance at 908 and a first level of support at 888.

The VIX was down 0.04 points to 14.28. The 20-day historical volatility for the SPX fell to 5.5 percent, so this relatively low VIX level is actually quite high in that regard.

The February futures lost 0.30 points, or 2 percent, to close at 14.85 as the March futures fell 0.05 points to 15.75. This had the iPath S&P 500 VIX Short-Term Futures Note (VXX) down 0.82 percent to close at 24.07.

Just over 736,000 VIX options traded on the day. Calls made up 548,000 of that volume.

The VVIX Index, which measures the implied volatility of the VIX options, was down 0.8 percent to 76.72. So there are expectations that actual volatility will pick up from here, but there is not much concern in this market.
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